Fires can cause catastrophic damage.
When a fire strikes in your home, it can be an overwhelming experience to deal with. After the smoke clears, it is time to begin the insurance claims process. Understanding how a fire claim with homeowner's insurance works can help you avoid confusion and get a fair settlement for your loss.
Reporting the Claim
The first part of the process involves filing a claim with your insurance company. You should contact your insurer immediately after the fire occurs. Once you contact the insurance company, you will need to provide basic information such as the date of the fire, the address of the property and your name. You generally also need to provide the insurance company with a police report regarding the fire. At that point, the insurance company assigns an adjuster to your claim.
Policy Analysis
After you file a claim, the adjuster reviews your homeowner's insurance documents to verify the included coverage types and monetary limits of your policy. The adjuster then provides you with a summary of the policy so that you know exactly what to expect from the insurance company. For example, your policy generally has a limit to the dollar amount of personal items covered in a house fire. The summary also shows the maximum amount the insurance company will pay for a total loss.
Damage Assessment
The claims adjuster pays a visit to the site of the fire for an initial assessment of the damage. Many insurance companies use complex software that helps adjusters estimate damage accurately according to current market values. In large fires, the insurance company may hire a fire investigator to determine what caused the fire. The investigator then provides his findings to the adjuster. The adjuster estimates the damages based on his findings and the information provided by the investigator.
Settlement
Once the adjuster has conducted his analysis, he typically contacts you to talk about settling the claim. The adjuster may present you with a lump sum figure for the damages or break it down into various payments. If you feel like the settlement is fair, you can agree to the terms and be given a payment. The adjuster may also handle the bills associated with your living expenses while you are out of your home. For example, the insurance company may pay for a hotel room and food while you do not have a place to live.
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